Please take a close look at what you're buying. It is no longer the one-piece unit. This storage chest was redesigned by Step 2, and I wish it hadn't been! There are two main problems now-- first is that the bookshelf is not as deep, which means it can store only small books. Don't know about you, but about half of my daughter's books are fairly big hardcovers. They won't fit.
The other problem is that it now comes in two pieces that you have to screw together. I was really surprised to see that when you assemble it, the two screws simply stick out into the toybox... there is no covering over them, so if your child reaches in or climbs in, they could get hurt on these screws. For purely aesthetic reasons, I also prefer the one-piece design.
I don't have the old model to compare it to, but I am told the plastic is also flimsier in the new model. I know that I can actually see through the white plastic (I can tell what toys are inside it), so that doesn't give me a whole lot of confidence.
All that said, I still prefer it to most other toyboxes. The toybox is roomy and cute. My 2-year-old has no problem opening it or reaching her books off the shelf, and even though I'm annoyed that it's not deep enough, I'm glad there is a shelf anyway.